World Oil LONDON (Bloomberg) –The Iranian nuclear talks could hardly be more critical for oil traders. Crude prices have surged 10% this year to around $85 a barrel, with many analysts predicting it’s only a matter of time before they hit triple digits for the first time in eight years. Whether they rush to that level or retreat hinges in
Oil Now Oil prices rose on Monday on worries about supply disruption amid concerns about Russia-Ukraine discord and rising tensions in the Middle East, which could make an already tight market even tighter. Brent crude rose 31 cents, or 0.4%, to $88.20 a barrel by 1009 GMT. U.S. West Texas Intermediate (WTI) crude gained 21 cents, or 0.3%, to $85.35.
Yahoo Finance (Bloomberg) — China disclosed its first Iranian oil imports in a year amid talks between between Tehran and world powers aimed at reviving a nuclear accord that could pave the way for lifting U.S. sanctions. A total of 260,312 tons, or 1.9 million barrels, arrived in December, according to customs data on Thursday. That’s the first time the
Nasdaq MOSCOW, Jan 17 – Saudi Arabia’s planned purchase of Polish refining assets is set to put OPEC’s top producer in charge of two thirds of Poland’s oil supply, eroding previously dominant supplier Russia’s leverage as it grapples with regional tension. Poland has a long history of seeking to reduce its dependence on Russian energy imports through deals with alternative
World Oil (Bloomberg) –Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. “We have very serious concerns that the world could run short of energy if we are not careful in managing the transition,” Mohammed Al-Jadaan said. “In Saudi Arabia, we have an interest in
World Oil (Bloomberg) –Halliburton Co. and Exxon Mobil Corp. are in talks over the latter’s attempt to sell a stake in the huge West Qurna-1 oil field in southern Iraq, according to the country’s energy minister. Iraq wants a U.S. partner for Exxon’s stake, Oil Minister Ihsan Abdul Jabbar told reporters in Baghdad. If the talks with Halliburton fail, Iraq
CNBC Saudi Arabia has reinstated diplomatic relations with Qatar, more than three years after Riyadh and several Arab countries severed ties with Doha. Kuwait, a mediator for both sides, announced that Saudi Arabia is reopening its airspace, sea and land borders with Qatar. Qatar’s emir, Sheikh Tamim bin Hamad al-Thani, arrived in Saudi Arabia on Tuesday for the first time
EnergyMix Algeria, 10th largest gas producer, said it will record a fall of 4.7% of its gas exports. These negative forecasts will also impact the country’s ability to support local demand for gas, which continues to grow. Algerian Energy Minister Abdelmadjid Attar (photo) announced that the country’s gas exports are expected to fall by around 4.7% this year, or 41
Oil & Gas Climate Action 100+ has more than 500 investors and $47 trillion in assets Climate Action 100+, a leading investor group pushing corporations to act on climate change, has added Saudi Aramco to its list of target companies. The group has more than 500 investors with more than $47 trillion in assets under management, and aims to engage
Houston Chronicle Oil supplies from Iraq, the Middle East’s second-biggest producer, are “potentially vulnerable” amid rising political risks in the country and the broader region, the International Energy Agency warned. Crude prices briefly soared to a three-month high above $70 a barrel last week as tensions between the U.S. and Iran erupted in neighboring Iraq, where America assassinated an Iranian
Reuters LONDON – Oil prices rose over 1% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike Brent crude futures LCOc1 soared to a high of $70.74 a barrel and was at $69.38 at 1150 GMT, up 78 cents, or more
Reuters BASRA, Iraq – Operations resumed at Iraq’s southern Nassiriya oilfield on Monday, the oil ministry said, but it will take up to two days for output to be fully restored, two oil sources said. Protesters broke into the oilfield, which produces 80,000-85,000 barrels of oil per day, on Saturday and forced employees to cut off electricity from its control
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